German factory orders extend slide

Downtrend: Employees of German car manufacturer Porsche assemble sports cars at the Porsche factory in Stuttgart-Zuffenhausen, Germany. The country’s orders, adjusted for seasonal swings and inflation, slid 2.5 in April. — Reuters

FRANKFURT: German factory orders unexpectedly dropped for a fourth month in April, raising the prospect that an economic slowdown at the start of the year may be worsening.

Orders, adjusted for seasonal swings and inflation, slid 2.5%, the Economy Ministry said, compared with forecasts for an increase of 0.8%. From a year earlier, orders slipped 0.1%, the first annual decline since 2016. The continued weakness even in the euro area’s largest economy will cast a shadow over the European Central Bank’s policy meeting next week, when officials plan to discuss the future of their stimulus programme.